According to Inozemtsev, it is crucial for the West to apply laws and sanctions equally across the board. Excluding some Russian banks from the international payment system or allowing businesses to formally leave Russia but effectively remain active there through management buyouts would only lead to more damage in the long run. Instead, he suggests focusing on supporting the outflow of important resources like money and well-educated people, which could cause lasting damage to the Russian economy.
Inozemtsev also emphasizes that targeting specific elites in Russia may not be productive in building pressure. He believes that many in this group who have brought their money legally to the West feel betrayed, and measures that contradict constitutional principles could reinforce negative perceptions globally. He suggests taking actions that affect a large part of the population, such as restricting the import of brewing hops for Russian beer production or blocking access via Western companies like smartphone manufacturers.
In addition, Inozemtsev highlights how China’s influence in Russia has increased due to Western sanctions, affecting Russian energy exports and Chinese goods. The West also miscalculated the price cap for Russian oil, assuming production costs to be around $50 per barrel. The profits of state-owned energy companies have decreased in the past two years, with some recording losses. Therefore, Inozemtsev stresses the importance of developing effective strategies that do not contradict constitutional principles and consider the broader impact on the Russian economy.
Overall, Inozemtsev argues that applying laws and sanctions consistently is critical in building pressure on Russia while considering their broader impact on both Russia and global politics.
